September 21, 2009

FDIC Considers Borrowing to Replenish DIF

During her question and answer portion of her September 18 speech at the Future of Global Finance Conference, Georgetown University McDonough School of Business, Washington, D.C., Federal Deposit Insurance Corp. Chairman Sheila Bair said that the agency is considering borrowing from the Treasury Department in order to replenish the FDIC deposit insurance fund. The chairman’s speech focused on the need for transparency in response to the current economic crisis and steps that should be taken to avoid a similar crisis in the future.